Dow Jones at $60 per share.

Dow Jones Shares Surge After CNBC Reports News Corp. Makes Bid
By Cecile Daurat and Leon Lazaroff

Quote :

"May 1 (Bloomberg) -- Shares of Dow Jones & Co., owner of the Wall Street Journal, surged 58 percent after CNBC reported News Corp. made an unsolicited takeover bid for the company. The stock jumped $20.95 to $57.28 at 11:22 a.m. in New York Stock Exchange composite trading. The shares had fallen 4.4 percent this year before today. The last time the shares traded above $57 a share was in 2002. Rupert Murdoch's News Corp. offered to buy New York-based Dow Jones in a letter sent to the company's board two weeks ago, CNBC reported, citing people familiar with the decision. The Bancroft family, which controls the company, is still deciding whether to accept, CNBC said. The offer would be a 65 percent premium to yesterday's close."

http://www.bloomberg.com/apps/news?pid=20601087&sid=aZMyT_EDxw5c&refer=home

[Edited on May 1, 2007 at 12:10 PM. Reason : .]

5/1/2007 12:07:57 PM

Ooh, more fair and balanced news than you can shake a stick at!

5/1/2007 12:10:52 PM

Jealous.

5/1/2007 12:20:38 PM

news companies should not be allowed to buy news companies

5/1/2007 1:25:00 PM

I'm unclear. Would the price they are paying for the stock be paid based on the close of market yesterday? If so, then it seems like this may heavily affect the takeover.

5/1/2007 1:26:23 PM

^^ Too much consolidation in the Fourth Estate may be a legitimate concern.

^ As posted, the current offer is $60 per share.



[Edited on May 1, 2007 at 1:28 PM. Reason : .]

5/1/2007 1:27:27 PM

All this means is that the market believes the takeover big to be credible. And if News Corp is buying shares at $60 then surely people should expect to get paid something close to $60 for the same shares.

But I must wonder, what all does Dow Jones do? All I know about them is their popular stock index...

5/1/2007 2:52:48 PM

basically they run the wall street journal and have stock indexes. they also provide some content to cnbc. wikipedia is your friend.

5/1/2007 2:55:43 PM

5/1/2007 3:49:38 PM

this scares the shit out of me

5/1/2007 3:54:18 PM

i don't understand why this is such a big deal.

i dislike foxnews as much as the next guy, but the wall street journal really isn't big of a piece of the pie.

5/1/2007 4:10:10 PM

^^Why? Are you afraid of the Wall Street Journal turning conservative?

[Edited on May 1, 2007 at 4:12 PM. Reason : ,]

5/1/2007 4:11:54 PM

this will not happen

5/1/2007 9:05:54 PM

^ Jack Welch said he'd bet money it will happen.

5/1/2007 10:17:16 PM

the Bancrofts will not give up the wall street journal

5/2/2007 6:00:28 AM

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6/9/2007 2:14:33 AM

6/9/2007 2:33:05 AM

Quote :

"News Corp. Chairman Rupert Murdoch, having finalized a deal to buy The Wall Street Journal's publisher, Dow Jones & Co., is expected to turn his attention to figuring out his strategy for each of its businesses."

http://online.wsj.com/article/SB118595206198884573.html?mod=special_coverage

I told you so. Here's another prediction: Fox Business Network will crush the competition--CNBC might have to go out of business.

8/2/2007 1:07:14 AM

lol

CNBC wont go out of business

8/2/2007 1:54:47 AM

the newspaper is a business...it can be bought by anyone...it's not a goverment mouthpiece. Good for newscorp, they are expanding their market share in asian countries

8/2/2007 9:45:50 AM

i really don't see a big problem with this. the wall street journal has clout because of journalistic integrity now. if murdoch sacrifices that integrity, then the wsj won't be worth much to him. the only big influence this might have on the paper is on the editorial page. but that's already pretty conservative anyway, right?

8/2/2007 10:28:44 AM

Two nights ago, the FNC's The O'Reilly Factor's 4AM syndication had more ratings than CNBC had.... AT PRIMETIME...

^^^ So I'm not so sure.

[Edited on August 2, 2007 at 10:37 AM. Reason : ^]

8/2/2007 10:36:58 AM

Quote :

"i really don't see a big problem with this. the wall street journal has clout because of journalistic integrity now. if murdoch sacrifices that integrity, then the wsj won't be worth much to him. the only big influence this might have on the paper is on the editorial page. but that's already pretty conservative anyway, right?"

Agreed. If he tinkers too much, he's basically burned billions of dollars wrecklessly, and say what you want, but Rupert is smarter than that. A guy on NPR last night speculated that the paper at its core will probably be left alone, but its on the fringes (the 3-5%) is where you may see influences.

8/2/2007 10:39:59 AM

^ Yeah, they just have to be careful not to make up stories like the NY Times' Jayson Blair.

8/2/2007 10:52:59 AM

^^^^ The editorial page of The Wall Street Journal tends to be conservative, yes--but there are notable exceptions such as the paper's support of recent US immigration reform. I think many conservatives, like Mark Levin, were lumping the paper in with the corporatists. The news coverage by The Wall Street Journal tends not to be conservative. In addition, a special five-member committee will be established to assure the 'journalistic and editorial integrity and independence' of Dow Jones publications and services, and a member of the Bancroft family or a mutually acceptable person will be added to News Corp's board.

^^^ My understanding was that the 4 a.m. Factor broadcast had more viewers than CNBC had ALL DAY! There are some complications with Dow and CNBC business relationships that may keep CNBC afloat a little longer--until about 2012

[Edited on August 2, 2007 at 11:01 AM. Reason : .]

8/2/2007 11:00:25 AM

^ I may have misread the report. It might have been all day. If that's the case, I have no idea how they afford their broadcast fees.

8/2/2007 11:08:05 AM